Monday, August 03, 2009

FBI Is Raiding Banks

In addition to the report below, there is word that the FBI is hitting other banks.

I'm awaiting word that my big post peak financial conspiracy theory has been disproven. I have argued that the largest institutions will use legal and illegal means to wipe out their smaller competitors. If these raids only hit the smaller chains and doesn't lead to the break up of the likes Goldman Sachs, then this becomes another data point, proving out my thesis.

Though Karl and the rest are celebrating this, I worry that it's one more step towards a corporate monopoly on finance.

h/t The Market Ticker

Downtown building raided by FBI

Updated: Monday, 03 Aug 2009, 1:27 PM EDT
Published : Monday, 03 Aug 2009, 12:07 PM EDT

ORANGE COUNTY, Fla. (WOFL FOX 35) - - FBI agents from the Washington, D.C. field office have raided a building in downtown Orlando.

The building raided is the Colonial Bank building on Pine Street. The FBI is working with the Office of the Special Inspector General for the Troubled Asset Relief Program which was established by the Emergency Economic Stabilization Act of 2008.

FOX 35 has a crew at the scene. Check back for updates.


At 6:02 PM, Anonymous edgar said...

You and I both know that the big banks own the gubmint lock, stock, and barrel. The laws don't apply to them, and if they do they rewrite them.

At 6:07 PM, Blogger Bukko_in_Australia said...

But maybe they ARE criminals at that bank. And maybe the level of blatant criminality is so much worse than the accepted Goldman Squid level of things -- or more likely, so simplistic, like just getting TARP cheques and spending them directly on gold coins that the banksters carried directly to their yacht and sailed 'em to Aruba -- the the FBI was sick of getting blatantly pwn'd. It's Florida. I lived there a long time. People are stupid there. They probably do stupid crimes. I reckon that if The Power That Be Goldman wanted to eliminate the competition, they'd do it financially via the FDIC, rather than G-manly via the FBI.

At 6:37 PM, Anonymous edgar said...


At 6:48 PM, Anonymous Anonymous said...

Check out kd's latest ticker, it's a hoot!

At 7:08 PM, Anonymous Anonymous said...

[Turbo Timmy, the bankster's boy is losing it.]

At 10:51 PM, Blogger Weaseldog said...

Bukko, they are criminals. They've been working with the US Gov, doing what the Gov tells them to do.

But they are also low hanging fruit. And that's a bad thing to do when the politicians become desperate for a scapegoat.

Edgar, I wou;dn't expect anything less from Timmy. I've seen that kind of behavior from his kind before.


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